thank you!
this is not a problem as my "ratio trade" is cleaning up on the long side.
Swing Trade Play 11/11/05
- Thread starter MacroEvent
- Start date
thank you!
this is not a problem as my "ratio trade" is cleaning up on the long side.
this is very easy to do if you know how to do "scale - in/order replacements" ---- if you know how to do this then there is the ability to move with the price action. you never know when a top is in place until after the fact so your strategy has to have a way to properly adjust to the price action --- this is not about anything other then a "probability" of out come not about what i "feel" will happen.
also if the market can stay in a 3 or 4 point range for a while i can keep adding orders near the highs and pull off those positions at the bottom part of the range for additional 1 to 2 point profits that i can keep profiting from to use towards the trade ---- to earn my gap from the overall cost basis of the trade up to the current price action ---- this will keep the whole trade operation as near flat financially as possible until any pullbacks can be used to remove lower price level positions that then "jump" the trades cost basis up.
remember --- the most difficult trades are always the best ones {from a profit/return standpoint}. this has always been my experience --- i have never ever had a big payoff trade that happened easy --- you have to earn it.
also if the market can stay in a 3 or 4 point range for a while i can keep adding orders near the highs and pull off those positions at the bottom part of the range for additional 1 to 2 point profits that i can keep profiting from to use towards the trade ---- to earn my gap from the overall cost basis of the trade up to the current price action ---- this will keep the whole trade operation as near flat financially as possible until any pullbacks can be used to remove lower price level positions that then "jump" the trades cost basis up.
remember --- the most difficult trades are always the best ones {from a profit/return standpoint}. this has always been my experience --- i have never ever had a big payoff trade that happened easy --- you have to earn it.
not for me --- i have had 7 very successful swing trades this year and they were all a b*%$% in the beginning!!! 
and i think the reason they are hard for me is i am willing to play as the top is forming ---- i do not want to start my trade after price starts a fall already. sometimes price will fall 20 points before most people will see confirmation of a top failure --- i will not wait for that.
and i think the reason they are hard for me is i am willing to play as the top is forming ---- i do not want to start my trade after price starts a fall already. sometimes price will fall 20 points before most people will see confirmation of a top failure --- i will not wait for that.
Very interesting.
It is NOT OK to miss 20 points in direction of a trade but it is ok to have 18 points DD from original entry.
here is your first post:
"OK i am ready for a swing trade short here after a nice 10 day run. I have 40% of my ES position on from 1234.00/.25/.50 and i will scale in the remaining entries all the way to 1239.00 --- above 1239.00 i will have a 5 pt stop to 1244.00."
By the way did you execute your stop loss?
yes and i really like them --- they have treated me great and i have an exceptional rate!
ok i have been able to cover a whole bunch of positions {previous position replacements} so far and my new cost basis is now 1248.25 -- i am also holding a few extra positions on the side from the 1250.50/1251.50 level that i have not covered fully yet, in case we have a bigger move today --- i will start covering these at 1246.50 on down to help earn additional profits for use in the swing trade later if needed {like maybe Monday if we have a big move back up}.
ok i have been able to cover a whole bunch of positions {previous position replacements} so far and my new cost basis is now 1248.25 -- i am also holding a few extra positions on the side from the 1250.50/1251.50 level that i have not covered fully yet, in case we have a bigger move today --- i will start covering these at 1246.50 on down to help earn additional profits for use in the swing trade later if needed {like maybe Monday if we have a big move back up}.
what i am doing has gone right over your head --- you do not understand what "order replacement" is. i have never at any point had a 18 point DD --- not even close.